Viant Technology Inc. (NASDAQ:DSP) Short Interest Update

Key Points

• Short interest dropped 16.7% in April to 932,620 shares (about 2.1% of the float) with a days-to-cover of 5.1.
• Wall Street sentiment is broadly positive with an average rating of Buy and a consensus target price of $17.79, compared with the current share price near $10.58.
• Insiders have been net sellers recently: the CFO sold 13,283 shares under a Rule 10b5-1 plan and insiders sold 178,283 shares (~$1.88M) last quarter, though insiders still own 29.4% of the company.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 932,620 shares, a drop of 16.7% from the March 31st total of 1,119,593 shares. Based on an average daily volume of 181,353 shares, the days-to-cover ratio is presently 5.1 days. Currently, 2.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

DSP has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Viant Technology from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. Freedom Capital raised Viant Technology to a "strong-buy" rating in a research note on Tuesday, March 10th. Loop Capital set a $14.50 price target on Viant Technology in a research note on Tuesday, March 10th. B. Riley Financial reaffirmed a "buy" rating and set a $17.00 price objective (up from $16.50) on shares of Viant Technology in a report on Thursday, March 12th. Finally, DA Davidson boosted their target price on shares of Viant Technology from $15.50 to $16.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $17.79.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 13,283 shares of the business's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $10.91, for a total transaction of $144,917.53. Following the completion of the sale, the chief financial officer owned 579,744 shares of the company's stock, valued at approximately $6,325,007.04. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 15,000 shares of Viant Technology stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $11.80, for a total value of $177,000.00. Following the transaction, the insider directly owned 23,760 shares in the company, valued at approximately $280,368. The trade was a 38.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,283 shares of company stock worth $1,883,485 over the last quarter. 29.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viant Technology

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in shares of Viant Technology during the 3rd quarter valued at about $31,000. Russell Investments Group Ltd. raised its holdings in Viant Technology by 86.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company's stock valued at $32,000 after buying an additional 1,228 shares during the period. CWM LLC lifted its position in Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company's stock worth $34,000 after buying an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Viant Technology by 620.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company's stock worth $35,000 after buying an additional 2,483 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Viant Technology during the fourth quarter valued at $64,000. Institutional investors own 11.38% of the company's stock.

Viant Technology Trading Down 0.3%

NASDAQ:DSP opened at $10.58 on Thursday. The business's 50-day moving average is $10.72 and its 200 day moving average is $10.69. Viant Technology has a 12 month low of $8.11 and a 12 month high of $16.25. The company has a market capitalization of $669.96 million, a P/E ratio of 32.97 and a beta of 0.94.

Viant Technology Company Profile

Viant Technology Inc Nasdaq: DSP is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.

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